Southwest Sees Record Profit in Second Quarter

Southwest Airlines announced financial results for the second quarter of 2016.

The airline reported a net income of $757 million, excluding special items, a record for the second quarter of a year for the carrier. The figure was a 9.6% increase over the second quarter net income of 2015.

The airline also set a record for second-quarter revenue, reporting $5.4 billion, a year-over-year increase of 5.3%.

Southwest’s passenger revenue per available seat mile, or Prasm, however, decreased by 3.5%, down to 12.83 cents.

Passenger traffic in the second quarter increased by 6%, up to 32.707 billion revenue passenger miles, or RPMs, from 30.858 billion in the second quarter of 2015. Meanwhile, capacity increased by 4.8% to 38.225 billion available seat miles, or ASMs, from 36.476 billion ASMs last year.

Passenger load factor in the second quarter increased by 1 percentage point, up to 85.6% from 84.6% in the same period last year.

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Those who travel by air during the winter have undoubtedly seen this unusual dance before: trucks circling the aircraft spraying a strange orange-colored fluid, while passengers peer through the plane’s windows.
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Deicing prevents a build-up of snow and ice on the plane’s wings …